We're Open

0% Plagiarism Guaranteed & Custom Written

LO1 Demonstrate an understanding of management accounting systems.

ACADEMIC YEAR

Feb 2020 – Jan 2021

Unit 5 (H/508/0489)

Management Accounting

Assignment Title

Management Accounting case study

Type of Assignment

As specified in the activities below

Weighting

100%

Issue Date

09/03/2020

Formative Submission Date

01/05/2020

Summative Submission Date

29/05/2020


Learner Declaration

To protect the integrity and reputation of its qualifications, GBS requires that each learner taking PEARSON QUALIFICATION undertakes that this is the learner’s own work. A vital way of giving this assurance is for you to sign the authenticity statement below to confirm ownership of the work that may be presented to external examiner prior to certification. In so doing you are confirming that there has been no cheating or copying in producing the work and that where other sources of information have been used, they have been properly referenced.

Learners should also be aware of the GBS guidance and regulations in concerning plagiarism. All submissions should be your own, original work.

The Harvard Referencing System must be used. The Wikipedia website must not be referenced in your work.

You have the right to appeal against assessment decisions made regarding your submitted assignment.

Learner Statement

To ensure certification of your achievement, before submitting your assignment for marking, please read and tick the box, then sign the box below.

My submitted assignment is my own work without any help except acceptable support from my Assessor(s)

By signing this document I confirm I have read and understood the above learner declaration and verify my above learner statement regarding my submitted assignment to be true.

 

Submission Format

The required submission format for this assignment is mix of report format (LO1, LO2) as well as a business report format (LO3,LO4), this is listed under the given task. Your submission will be word-processed, written work with clear indication of: the unit number and title, the relevant task being addressed, your name and registration number.

You are expected to use external sources, and clearly reference these in your work. References should be added to the text (next to the quote or paraphrase), and also placed at the end in a references list, using Harvard Referencing style. You should complete a bibliography to support all evidence. The recommended word count for the assessment is 2000 to 2500 words for the

task one and around 1000 words for task two, but you will not be penalised for exceeding this.

 

Scenario (Covering LO1 and LO4)

You work as a Management Accountant in a small and medium organization operating in either a Manufacturing, Retail, Hospitality or Construction sector with not more than sixty (60) employees and an annual net turnover not exceeding £600,000.

In today’s competitive and uncertain and dynamic business environment, management accounting plays vital role and therefore decision makers in the organization must understand how to create and use good management accounting information. In today’s fragile business environment, businesses need to track performance information that goes beyond just the cost- based information of historic general ledger systems provided by traditional financial accounting information.  Good management accounting involves a responsibility to manage a wide variety of critical management accounting information using management accounting system and management accounting techniques such as cost-volume- profit (break- even) analysis,  budgetary control, cash budget, marginal costing and absorption costing to produce relevant management report for informed decision making.

This was the summary of the speech delivered by the chairperson of CIMA at a recent global accounting summit in Central London about the role of management accounting, management accounting system, cash budget, cost-volume analysis in an organisation. The Chief Operations Officer of your organization sees management accounting function as very crucial in providing management information for informed decision making within the organization. Your organization sponsored you to attend this summit.


Learning Outcomes

LO1- Demonstrate an understanding of management accounting systems.

LO2 - Apply a range of management accounting techniques.

ASSIGNMENT BRIEF AND GUIDANCE

TASK 1: (ADDRESSING LO1 AND LO2)

After this summit, the Management has asked you (Management Accountant) to write a report covering management accounting and management accounting system together with different

costing techniques and reporting to enable the organisation to implement them. This report should include the role and function of management accounts department, covering the management accounting systems, operating in the organizations as well as a range of techniques used. Your report should include the following and supported with calculations addressing the financial statements, plus:

  1. An explanation of the principles of management accounting.
  2. The role of management accounting and management accounting systems.
  3. The use of techniques and methods used in management accounting by presenting calculations for an income statement using marginal and absorption costings to show how these financial reporting and statements support business growth and success.
    1. Evaluation of how management accounting is integrated within the organization and the benefits of the function to the organization
  4. Conclusions that critically reflect the application of management accounting
  5. Ensure to see that your report has clearly reflected with interpretation of data for a range of business activities and includes financial reporting documents.

For higher grading you are required to consider developing your answers further based on the given learning outcomes and assessment criteria given at the end of the assessment brief.

Across the report you are required to provide various examples to enhance the credibility, currency and depth of the answer. You are also required to support your answer by academic and professional sources as well as statistics when relevant. Harvard referencing to be followed in this task (Citations and reference list) should be provided.

The work should be prepared in a report format as guided by your tutor. Clear headings and subheadings should be included.

The recommended word count for this task of the assessment is 2000 to 2500 words, however you will not be penalised for exceeding this.

Learning Outcomes

LO3 - Explain the use of planning tools used in management accounting

LO4 - Compare ways in which organisations could use management accounting to respond to financial problems

Task 2 covering LO3 and LO4

Using the scenario and in your capacity as Management Accountant in your organisation, continue the word report and see that this part is presented in the form of Business report to the Chief Operations Officer addressing other issues in management accounting function. This part focuses on the planning tools to ensure financial stability and performance as well as ways in which management accounting has played a key role in preventing and solving financial problems. This business report should be able to reflect the analysis of different methods used for management accounting and make recommendations for which of these methods should be applied to achieve sustainable success. Focus on your role assisting the financial accountant :

1. Compare and contrast three planning tools used in management accounting, indicating how effective you judge each to be and why. Your judgements should be supported by examples to demonstrate advantages and disadvantages. Ensure to see that the different planning

tools are able to analyse with special reference to preparing and forecasting budgets.

  1. Using specific case studies as examples, compare ways in which management accounting is applied, the effectiveness of management accounting in dealing with financial problems and preventing financial problems in organisations.
  2. Provide conclusions and recommendations to the organisation on which methods to apply in order to achieve sustainable business success, based on your findings and evidence provided.

For higher grading you are required to consider developing your answers further based on the given learning outcomes and assessment criteria given at the end of the assessment brief.

Across the individual report you are required to provide various examples to enhance the credibility, currency and depth of the answer. You are also required to support your answer with academic and professional sources as well as statistics when relevant. Harvard referencing to be followed in this task (Citations and reference list) should be provided.

The work should be prepared in a report format which includes a business report for Task 2 Clear headings and subheadings should be included.

The recommended word count for the assessment is around 1000 words for the second task, but you will not be penalised for exceeding this.



 

 

Merit

Distinction

 

 

ACADEMIC YEAR

D1 Critically evaluate

Unit 5 (H/508/0489)

M1 Evaluate the benefits

how management

Assignment Title

of management accounting

accounting systems and

Type of Assignment

systems and their

management accounting

Weighting

application within an

reporting is integrated

Issue Date

organisational context.

within organisational

Formative Submission Date

 

processes.

Summative Submission Date

 

 

 

 

 

M2 Accurately apply a

D2 Produce financial

 

range of management

reports that accurately

Learner Declaration

accounting techniques and

apply and interpret data

To protect the integrity and reputation of its qualifications, GBS requires that each learner taking PEARSON QUALIFICATION undertakes that this is the learner’s own work. A vital way of giving this assurance is for you to sign the authenticity statement below to confirm ownership of the work that may be presented to external examiner prior to certification. In so doing you are confirming that there has been no cheating or copying in producing the work and that where other sources of information have been used, they have been properly referenced.

produce appropriate

for a range of business

Learners should also be aware of the GBS guidance and regulations in concerning plagiarism. All submissions should be your own, original work.

financial reporting

activities.

The Harvard Referencing System must be used. The Wikipedia website must not be referenced in your work.

documents.

 

LO3 Explain the use of planning tools used in management

LO3 & 4

 

accounting

D3 Evaluate how

 

P4 Explain the advantages and

M3 Analyse the use of

planning

 

disadvantages of different types of

different planning tools

tools for accounting

 

planning tools used for budgetary

and their application for

respond appropriately to

 

control.

preparing and forecasting

solving financial problems

 

 

budgets.

to lead organisations to

 

sustainable success.

 

LO4 Compare ways in which organisations could use management

 

accounting to respond to financial problems

 

 

P5 Compare how organisations are

M4 Analyse how, in

 

 

adapting management accounting

responding to financial

 

 

systems to respond to financial

problems, management

 

 

problems.

accounting can lead

 

 

 

organisations to sustainable

 

 

 

success.

 

 

100% Plagiarism Free & Custom Written,
Tailored to your instructions


International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

UK Registered Company # 11483120


100% Pass Guarantee

STILL NOT CONVINCED?

We've produced some samples of what you can expect from our Academic Writing Service - these are created by our writers to show you the kind of high-quality work you'll receive. Take a look for yourself!

View Our Samples

corona virus stop
FLAT 25% OFF ON EVERY ORDER.Use "FLAT25" as your promo code during checkout